Co-founders: finding the dream team

As humans, the best thing we know is relating to each other. We do it for love, for studying, for things in common, for working, and making business. At last, the correct team is considered as one of the success secrets for building a successful business. If we could do it alone, working teams and the specialties would not exist, but they do. So, choose the best team is not only a reality also it is a necessity, an important thing you have to do as well as possible. Co-founders are an important part of this dream team we want to create.

To know how to do it, we’ll give you bits of advice and the necessary information.

Co-founders: the other half of your business

If the idea is yours and you will take part in the process, for sure, you will be the founder. Then you should decide if you want to have co-founders.

Who are they? They will be your partners in crime when it is referred to business. They usually contribute economical resources, experiences, mentoring, specific knowledge or something you need to develop your business in a better way.

Some experts think that having a co-founder is the best thing that an entrepreneur could have because this means that you were able to sell the idea to a first person before launching at the market.

On the other hand, there are some business experts who consider that starting a business is better if you begin alone. Fewer people to have for every agreement.

And why not? Co-founders can help you with that. But first, take into consideration some important things.

Before undertaking, you have to clarify this with your co-founders

Personalities

Behaviors

What you like and dislike

How do you react under pressure

Money and all around it

Incentives

Priorities

Responsibilities

Values

Work culture

Motivation

Work methodologies

Styles

All of these related to business. Once you will talk and agree on this, you are ready to start or go for another co-founder.

Specifically, these are the co-founder functions

This topic will change depending on the co-founder input. For example, if the co-founder invests economical resources, it is usual that he or she can decide about finance and the proper way to use the money. Now, it is common that co-founders don’t contribute with money, but they contribute with knowledge. In this specific case, responsibilities and functions should be different.

What does it mean? Co-founders functions are not always the same. They will change in every company, and you as a founder can establish it how better you think.

But we want to give you some common functions of co-founders to keep in mind:

Select the team’s members with you

Make a distribution about economic resources

Contribute to knowledge

Plan strategies of some processes

Identify and take advantage of market opportunities

Promote the brand

Propose ideas for marketing and sales

Collaborate with business documentation

Calculate financial estimates

Collaborate with internal processes when it has been necessary

Why is important to have one?

Did you know that the principal reason for startup failing it is the wrong people working on it?

Choosing the best partner or team during the first steps of your business makes the difference between work and evolve better than you expect or fail to try.

A co-founder even is going to take vital decisions from your hand, and it has to be a major influence on business operation.

Some people say: to have a bad co-founder is better to be alone.

In effect, our best recommendation for you in this: thinks twice before choosing.

Tips to choose the best co-founder

A really good co-founder needs to have the next skills:

Strategical thinking: That’s due to decisions they have to take or defend. It is very important they have been able to anticipate market changes.

Management: a co-founder it is a kind of boss. So, they should know to manage processes, people and everything inside the company.

Financial connoisseur: especially if they contribute with money or they have to take important decisions about business finance.